DeFi

DeFi, short for decentralized finance, represents a shift in the financial sector by leveraging blockchain technology, primarily Ethereum, to eliminate traditional financial intermediaries. It enables various financial applications, from simple transactions to complex contracts, through smart contracts that execute automatically under specific conditions. Key DeFi applications include decentralized exchanges (DEXs), stablecoins, lending platforms, and prediction markets. DeFi offers financial services like loans and interest-earning opportunities without traditional identity verification, relying instead on collateral, usually in cryptocurrency. This innovative sector promises increased accessibility and efficiency but comes with risks, such as market volatility and unregulated projects.

Videos

Mysten Labs CEO on Sui Mainnet Going Live

Layer 1 blockchain Sui launched its mainnet this week, as it aims to edge out rivals like Aptos and other DeFi heavyweights. Evan Cheng, co-founder and CEO of the blockchain's core contributor Mysten Labs, shares insights into the benefits and opportunities of Sui and how it aims to stand out from the competition. Plus, Cheng reflects on the lessons learned from previously working on the Meta-led Diem project, formerly known as Libra.

May 5, 2023

Markets

Pepecoin Short Sellers Lose Millions as PEPE Nears $1B Valuation

The tokens have run from strength to strength in the past week even as skeptics warned of an impending collapse.

By Shaurya MalwaMay 5, 2023

PEPE moves higher (Anthony Kwan/Getty Images)

Markets

Liquid Staking Platform Lido Surpasses 6M Ether Deposits as Shanghai Upgrade Spurs Inflows

Ethereum’s Shanghai upgrade spurred deposit inflows to liquid staking protocols, including to the largest player Lido.

By Krisztian SandorMay 4, 2023

Tech

Layer 2 Network Optimism to Use Ethereum Attestation Service to Promote User Trust

The attestation service will allow any Optimism user to create digital sign-offs on all kinds of information involving the blockchain’s activities and users.

By Elizabeth NapolitanoMay 4, 2023

Finance

OpenTrade Raises Over $1.5M for Building Crypto Structured Financial Products

The platform will offer liquidity pools for U.S. Treasury bills, later this year.

By Brandy BetzMay 4, 2023

Tech

Arbitrum-Based Exchange Chronos Attracts $170M to Yield Pools in a Single Day

The price of the DEX’s native chr token jumped 25% in 24 hours.

By Shaurya MalwaMay 4, 2023

Tech

Solana Founder Brushes Off FTX Woes, Remains Confident in Crowded Blockchain Landscape

Prominent projects are porting to the Solana network and developer activity remains strong, Anatoly Yakovenko told CoinDesk TV.

By Shaurya MalwaMay 4, 2023

The suit accuses Solana founder Anatoly Yakovenko of securities violations. (Danny Nelson/CoinDesk)

Markets

‘WallStreetBets’ Themed Tokens Plummet 90% as Insider Dumps Treasury Holdings

WSB prices fell sharply as the apparent token sale by insiders led to token holders dumping holdings en masse.

By Shaurya MalwaMay 4, 2023

A key market metric known as the "stETH discount" suggests market speculation that Celsius Network might dump a big stake. (Creative Commons, modified by CoinDesk)

Policy

U.S. SEC Changes Its Mind on Officially Labeling Digital Assets

The Securities and Exchange Commission was about to define “digital asset” but deleted it in the final version of a rule, reversing a move that might have started formalizing crypto’s role.

By Jesse HamiltonMay 3, 2023